Kiri Industries Limited · NSE:KIRIINDUS
Kiri Industries — Investor Presentation (September 2025)
47 slides from Kiri Industries's investor presentation, Sep 17, 2025
Slide 1: Submission of Investor Presentation to exchanges
September 17, 2025 To, To, BSE Limited National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers, Exchange Plaza, Bandra Kurla Complex, Dalal Street, Mumbai- 400 001 Bandra (E), Mumbai - 400 051 Scrip Code: 532967 Scrip ID - KIRIINDUS Dear Sir/Madam, Sub: Submission of Investor Presentation
Slide 2: Investor Presentation September 2025
INVESTOR PRESENTATION September 2025
Slide 3: Executive Summary
Executive Summary PRODUCTS Dyes Intermediates Dyes Basic Chemicals H-acid Reactive dyes Sulphuric Acid Vinyl Sulphone Acid Dyes Oleum 65% and 23% Specialty Intermediates Direct Dyes Chloro Sulphonic Acid Naphthalene and Aniline based intermediates Disperse Dyes Thionyl Chloride INDUSTRIES CATERED OV
Slide 4: Company Overview
Kiri Industries Limited Fienre fill of Colowrs COMPANY OVERVIEW
Slide 5: Company Overview
Company Overview Consolidated Revenue Break-up (INR Mn) 1,876 2,020 2,115 5,524 4,659 4,791 533 1,488 • Established in 1998, Kiri Industries Limited (KIL), is based out of Gujarat and has emerged as one of FY23 FY24 FY25 Q1-FY26 the largest manufacturers and exporters of a wide range of Dyes, Dyes I
Slide 6: Board of Directors
Board of Directors Yagnesh Mankad (Whole Time Director): • He is a B.E. (Mechanical Engineering) & MBA graduate • He has 43 years’ experience and exposure in the field of Engineering, Plastics, Textiles and Chemical industries across the corporates. • He has also vast working experience in operation
Slide 7: Key Milestones
Key Milestones 1998 2004 2006 2008 2010 2013 2015 2018 2020 2024 Incorporation Two-Star Export Commercial Entered into a Acquisition DyStar Filed minority Achieved Kiri Industries SICC ordered of Kiri Dyes House production of JV Agreement of assets of became oppression suit highest PAT became a En B
Slide 8: Manufacturing Facilities
Manufacturing Facilities Unit I, Unit II & IV Location: Ahmedabad, India. Capacity Installed: • Reactive Dyes : 36,000 MTPA Products manufactured: • Disperse Dyes: 8,000 MTPA • S. O. Dyes • Disperse Dyes Unit V Location: Vadodara, India. Capacity Installed: • Basic Chemicals : 500 TPD (182,500 MTPA)
Slide 9: Manufacturing Process
Manufacturing Process Caustic Key Inputs Ice Napthalene Sulphur Sodium Nitrate Soda Ash Water Aniline Soda Chlorine Sulphur & Bulk Chloro Para Nitro Sulphuric Oleum 65% Sodium Bi Thionyl Chemicals Beta-Nepthol Sulphonic Acetanilide MPD Aniline Acid Oleum 23% Sulphate Chloride Division Acid Vinyl Sul
Slide 10: Geographical Presence
Geographical Presence AHMEDABAD THE NETHERLANDS VADODARA Canada UK CZECH REPUBLIC BELGIUM SPAIN HUNGARY ITALY UZBEKISTAN KOREA USA PORTUGAL GREECE TURKEY CHINA PAKISTAN LEBANON TUNISIA NEPAL ISRAEL BANGLADESH TAIWAN INDIA EGYPT UAE HONG KONG EL SALVADOR THAILAND HONDURAS PHILIPPINES MALAYSIA COLOMBI
Slide 11: Awards and Accolades
Awards and Accolades Award for Direct Platinum Award for Trishul Award for Chemexcil First Award for First Award for Outstanding Export of Self Small Scale Sector Small Scale Sector Gold Award Direct Export of Self Direct Export of Self Entrepreneur Award Manufactured Dyes 2002-03 2005 2006-07 Manuf
Slide 12: Key Strengths
Key Strengths • High entry barriers due to a stringent process of acquiring new permissions. • Heavy capital expenditure. Entry Barrier • Strict implementation of environmental and pollution norms. • The Company established a track Competitive record of long-term relationship with Position key globa
Slide 13: Business Overview
Kiri Industries Limited Fienre fill of Colowrs BUSINESS OVERVIEW
Slide 14: Business and Product Mix
Business and Product Mix Standalone Revenue Breakup (Q1-FY26) Thionyl Chloride Chloro Other Sulphonic Speciality Acid Intermediates Basic Chemicals 13% Oleum 65% Vinyl & 23% Sulphone Dyes Basic Dyes Chemicals Intermediates 39% 13% 48% Dye Intermediates Sulphuric 48% H-Acid Acid Dyes 39% Reactive Dis
Slide 15: Value Chain – Dye Stuff Manufacturing
Value Chain – Dye Stuff Manufacturing Raw Materials for Dyes Aniline Naphthalene In-house Acids and Usage of Intermediates such as VS, H- B-Napthol MPD, etc. effluents & by-products Acid, Gamma Acid, K-Acid MUA, etc. Result of Zero Waste Dyes Inputs Intermediates Manufacturing process Dyestuffs Black
Slide 16: Benefits of Zero Waste
Benefits of Zero Waste Operating Efficiency • The Company’s focus on becoming a Entry Superior Zero Waste company has ensured Barrier Return Ratios that Spent Acids are a source of revenue (converted into commercially viable products) and not a source of expense (frees the hassles of management and di
Slide 17: Dyestuff – An Overview
Dyestuff – An Overview Dyestuff are organic and inorganic substances which can absorb light as well as reflect some light to show colour. The dyestuff is also a water soluble substance. Criteria for a Suitable Dyestuff • Economical / Competitive • Better brightness • Non-toxic • Better fastness • Co
Slide 18: Dyestuff Manufacturing Process
Dyestuff Manufacturing Process Diazotization of Amine + HCl + Sodium Nitrite + Water + Ice Dissolving of Coupling Coupling of Component Diazo with Blending and (Coupling Coupling Clarification Standardization Spray Drying fine Packing Component + Components + standardization Water + Ice + NaHCO3 Cau
Slide 19: Reactive Dyes
Reactive Dyes • Reactive Dyes are the most versatile and popular class of Organic Dyes for importing colour on cellulosic fibres. • These are water soluble dyes which react to fibre, forming a direct chemical linkage with the application materials, which is not easily broken and offers good wash fas
Slide 20: Disperse Dyes
Disperse Dyes • Disperse dyes are synthetic organic dyes and is a kind of organic Fastness to wet treatment Fastness to dry heat substance which is free of ionizing group. They are less soluble in water and are used for dyeing synthetic textile materials. In terms of providing satisfactory Sublimati
Slide 21: Other Dyes
Other Dyes ACID DYES • Acid dyes are the dyes which can be applied directly to the application materials from an aqueous solution (without mordant). • The Company has been working on developing Acid dyes since a decade. It has been manufacturing this range of dyes for a long time. • Colours Availabl
Slide 22: Dyes Intermediates
Dyes Intermediates Total Revenue (INR Mn) & Gross Margins • Dyes intermediates are the main raw materials used for manufacturing dyestuffs. (Standalone) • The manufacturing chains of dyes and dyes intermediates can be traced back to petroleum-based products. 7,131 • Naphtha and natural gases are use
Slide 23: Dyes Intermediates – H-Acid
Dyes Intermediates – H-Acid H-ACID • H-acid is one of the leading dyes intermediates in the world, used in the manufacture of black dyes. • H-acid (8-amino- 1-hydroxynaphthalene-3,6-disulfonic acid), an important dye intermediate, is produced from Naphthalene by a combination of the unit processes o
Slide 24: Dyes Intermediates – Vinyl Sulphone
Dyes Intermediates – Vinyl Sulphone VINYL SULPHONE • Vinyl Sulphone is an industrial chemical used as a key raw material for manufacturing reactive dyes, having application mainly in textiles. It is manufactured from aniline. • It has applications in the manufacturing of Reactive dyes. • The Company
Slide 25: Basic Chemicals
Basic Chemicals • As part of strategic backward integration, the Company has set up a Basic Chemical facility to Total Revenue (INR Mn) & Gross Margins manufacture: (Standalone) • Sulphuric Acid • Chloro Sulphonic Acid • Oleum • Thionyl Chloride 34% • All these products are made in one integrated pl
Slide 26: DyStar
Kiri Industries Limited Fienre fill of Colowrs DYSTAR
Slide 27: About DyStar
About DyStar • The DyStar Group is a leading dyestuff and chemical manufacturer and solution provider, offering a broad portfolio of colorants, specialty chemicals, and services to customers across the globe. • With a heritage of more than a century in product development and innovation for the text
Slide 28: History
History 1995 2002 2007 2012 2016 DyStar was founded in 1995 as a FOUNDATION ACQUISITION: ACQUISITION: FOUNDATION: ACQUISITION: JOINT Color Texanlab Sustainable Emerald joint venture between Hoechst AG VENTURE OF: Solutions Textile Performance and Bayer Textile Dyes. In 2000, the Bayer AG and Interna
Slide 29: Updates on Court Case in Singapore
UPDATES ON COURT CASE IN SINGAPORE • Pursuant to the order dated February 23, 2024, of the Singapore International Commercial Court (“SICC”) directing an en- bloc sale of the shareholdings of Kiri Industries Limited (“Company”) and Senda International Capital Limited in DyStar, Mr. Matthew Stuart Be
Slide 30: Strategic Overview
Kiri Industries Limited Fienre fill of Colowrs STRATEGIC OVERVIEW
Slide 31: Future Outlook for Chemical Business
Future Outlook for Chemical Business • The company remains cautiously optimistic for FY26, focusing on procurement • U.S. tariffs of up to 50% on Indian dye efficiency, inventory management, and imports have created uncertainty, cost rationalization. threatening export momentum and margins • Strateg
Slide 32: Strategic Expansion: Copper & Fertiliser Integration
Strategic Expansion: Copper & Fertiliser Integration Company is expanding into the integrated copper smelting and fertilizer sector through its subsidiary Indo Asia Copper Ltd., marking a significant step in diversification beyond dyes and chemicals. This expansion is aligned with India’s self-relia
Slide 33: Opportunity in copper and Fertilizer Industry in India
Opportunity in copper and Fertilizer Industry in India Unlocking India’s Copper Potential Transforming By-products into Agricultural Value • Global copper demand was 25.9 Mn MT in 2024 and is expected to grow by • Fertilizers are critical for sustainable agriculture and food security, ~50% in the ne
Slide 34: Copper and Fertilizer Business Value Chain
Copper and Fertilizer Business Value Chain Copper Copper Copper Flash Smelting Refining CCR Rod Sale Concentrate Anode Cathode Copper Rods Copper Scrap Copper Cathode Sale Melting Furnace Sale Sulphuric Acid Anode Slime Selenium, Bismuth and PGM Phosphoric Rock Phosphate Precious Metal Acid Plant Re
Slide 35: Industry Overview
Kiri Industries Limited Fienre fill of Colowrs INDUSTRY OVERVIEW
Slide 36: The Colourant Industry
The Colourant Industry • Global colorants market is forecasted to reach USD 89.54 Billion with a CAGR of around 5.76% during 2023 – 2030. The market is driven by the rising inclination of consumers towards innovative and appealing shades of packaged products and items. Moreover, the increasing need
Slide 37: Dyestuff Industry
Dyestuff Industry Dyestuff Industry: The dyes and dyestuff industries play a major role in the growth of the chemical industry. Dyes intermediates are products that are transformed to finished dyes and pigments. The dye intermediates serve various industries like plastics, paint, textiles, printing
Slide 38: India’s Competitive Advantage
India’s Competitive Advantage China Factors Advantage India 2014-present China Factors: (Industry is shifting to other Asian In China, apart from the ETP countries; India is well placed to hurdle, there is: grab the opportunity) 1. Reduction in the refund of VAT from 17% to about 13% on DI Intervent
Slide 39: Financial Overview
Kiri Industries Limited Fienre fill of Colowrs FINANCIAL OVERVIEW
Slide 40: Historical Standalone Income Statement
Historical Standalone Income Statement PARTICULARS (INR Mn) FY23 FY24 FY25 Q1-FY26 Revenue from Operations 6,015 6,334 6,556 1,808 Total Expenses 7,106 6,967 6,993 1,974 EBITDA (1,091) (633) (437) (166) EBITDA Margins (%) NA NA NA NA Other Income 234 366 1,053 340 Depreciation 441 442 445 115 Financ
Slide 41: Historical Standalone Balance Sheet
Historical Standalone Balance Sheet PARTICULARS (INR Mn) FY23 FY24 FY25 PARTICULARS (INR Mn) FY23 FY24 FY25 Equity 4,913 3,971 7,203 Non Current Assets 7,726 7,391 7,930 Equity Share Capital 518 518 556 a) Property, Plant and Equipment 4,736 4,369 4,715 Other Equity 4,395 3,453 6,647 b) Right of Use
Slide 42: Historical Consolidated Income Statement
Historical Consolidated Income Statement PARTICULARS (INR Mn) FY23 FY24 FY25 Q1-FY26 Revenue from Operations 6,679 7,086 7,400 2,021 Total Expenses 7,743 7,681 7,940 2,184 EBITDA (1,064) (595) (540) (163) EBITDA Margins (%) NA NA NA NA Other Income 234 366 1,149 348 Depreciation 455 456 445 116 Fina
Slide 43: Historical Consolidated Balance Sheet
Historical Consolidated Balance Sheet PARTICULARS (INR Mn) FY23 FY24 FY25 PARTICULARS (INR Mn) FY23 FY24 FY25 Equity 26,513 27,837 32,466 Non Current Assets 29,389 31,286 40,397 Equity Share Capital 518 518 556 a) Property, Plant and Equipment 4,737 4,369 8,047 Other Equity 25,995 27,319 31,910 b) R
Slide 44: Consolidated Financial Highlights
Consolidated Financial Highlights Operational Revenue (INR Mn) EBITDA (INR Mn)* &EBITDA Margins (%)* PAT (INR Mn)* & PAT Margins (%)* 7,086 7,400 6,679 FY23 FY24 FY25 Q1-FY26 -163 2,021 -595 -540 -8.07% FY23 FY24 FY25 Q1-FY26 -8.40% -7.30% -14.65% -19.93% -12.88% -514 -15.93% -1,064 -913 -25.43% -1,
Slide 45: Capital Market Data
Capital Market Data Share Price up to 30th June, 2025 150% 100% 50% 0% -50% Jul-24 Aug-24 Sep-24 Oct-24 Nov-24 Dec-24 Jan-25 Feb-25 Mar-25 Apr-25 May-25 Jun-25 Kiri Sensex Price Data (As on 30th June 2025) INR Shareholding Pattern (As on 30th June 2025) Face Value 10.00 Market Price 574.50 Promoters
Slide 46: Disclaimer
Disclaimer Kiri Industries Limited Disclaimer: The information contained in this presentation is only current as of its date. All actions and statements made herein or otherwise shall be subject to the applicable laws and regulations as amended from time to time. There is no representation that all
Slide 47: Thank You
Kiri Industries Limited Fienre fill of Colowrs THANK YOU
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